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We use monetary policy to achieve our target of keeping inflation between 1% and 3% on average over the medium term.
3.50 %
We set the OCR to influence interest rates. We use our influence to keep inflation low and stable.
Updated: 2:00pm, 9 Apr 2025
Next update: 2:00pm, 28 May 2025
2.5 y/y%
Consumers Price Index (CPI) inflation occurs when the prices of a range of goods and services rise on average.
Updated: 3:00pm, 17 Apr 2025
Next update: 3:00pm, 21 Jul 2025
We call our work to influence interest rates and the amount of money in the economy monetary policy.
We use a range of monetary policy tools to control inflation and keep prices stable.
We publish our Monetary Policy Statement 4 times a year.
